Troubled Home Market Creates Generation of Renters
According to the Associated Press, the percentage of home ownership in the U.S. is the lowest since 1998. The economic downturn has resulted in nearly 3 million additional rental households, and that number is expected to double by 2015. Most importantly, says the AP, "demand is driving up rents," with a median increase of more than 4% from 2009 to 2010. Another factor favorable for property investment is the reduction in home prices coupled with mortgage rates that make it cheaper to rent than buy. Click here to see the full article on ABCNews.com.